DECEMBER 2004

Genesis approves new loans in Bath, Camden, and Ellsworth

Genesis approves $288,200 in new loans to Elmhurst, Inc.  in Bath to create housing for individuals with developmental disabilities; to Camden Affordable Housing Organization to acquire land to use in the development of affordable housing; and to The Next Step, which provides services for victims of domestic abuse in Ellsworth, to develop three units of transitional housing.

Elmhurst, Inc. borrowed $38,200 from Genesis to assist with the purchase of a duplex in Bath that will provide housing for four adult men with developmental disabilities. The home will be staffed 24-hours a day by Elmhurst, Inc. and support residents in achieving greater self-sufficiency. Bath Savings Institution provided additional financing in support of this project.

The Next Step, the sole provider of domestic abuse services for Hancock County, borrowed $50,000 to create three units of transitional housing for families that have been the victims of domestic violence.  Lack of affordable housing and long waiting lists for assisted housing mean that many battered women and their children must choose between abuse at home and homelessness.  Transitional housing for those seeking to achieve a violence-free life will fill an important role for these families.

Camden Affordable Housing Organization (CAHO) borrowed $200,000 to develop Lupine Terrace, a ten-acre in-town parcel, that will provide up to 25 low and moderate income working families homeownership options.

 

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